Villar's AllDay files for initial public offering: SEC

ABS-CBN News

Posted at Aug 18 2021 10:09 AM

MANILA - The Villar-led AllDay Marts Inc has filed a registration statement for its proposed initial public offering, the Securities and Exchange Commission said Wednesday. 

In a statement, the SEC said AllDay filed its registration statement on Aug. 13 for the IPO of up to 6.8 billion common shares at the price of up to P0.80, with an overallotment option of up to 685 million shares.

AllDay said net proceeds from the offer would be used for debt repayment and capital expenditures as well as for initial working capital for store network expansion. 

PNB Capital and Investment Corp is the sole issue manager for the offer. BDO Capital & Investment Corporation and China Bank Capital Corp along with PNB Capital, will serve as joint lead underwriters and joint book-runners, the SEC said.

Earlier this year, AllDay Supermarkets launched its personal shopper service as a safer way of shopping during the pandemic.

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--- with a report from Warren De Guzman, ABS-CBN News